{"id":712412,"date":"2023-08-21T10:53:07","date_gmt":"2023-08-21T08:53:07","guid":{"rendered":"https:\/\/businesstech.co.za\/news\/?p=712412"},"modified":"2023-08-21T10:53:07","modified_gmt":"2023-08-21T08:53:07","slug":"how-south-africa-could-fill-an-agoa-sized-hole","status":"publish","type":"post","link":"https:\/\/businesstech.co.za\/news\/government\/712412\/how-south-africa-could-fill-an-agoa-sized-hole\/","title":{"rendered":"How South Africa could fill an AGOA-sized hole"},"content":{"rendered":"\n<p>South Africa will lean harder on its partners in the BRICS group of emerging market powers should it lose preferential access to US markets, the head of the country\u2019s largest labour federation said.<\/p>\n\n\n\n<p>South Africa has maintained what it terms a non-aligned position toward Russia\u2019s invasion of Ukraine, a stand that has irked Washington. <\/p>\n\n\n\n<p>Tensions spiked earlier this year when the US ambassador to Pretoria accused South Africa of loading arms onto a Russian ship and said its actions could imperil its preferential access to American markets under the African Growth and Opportunity Act (AGOA). The government denied the allegation.<\/p>\n\n\n\n<p>But some US lawmakers have pushed the Biden administration to review South Africa\u2019s access to AGOA amid frustration over the country\u2019s non-aligned position toward Russia\u2019s invasion of Ukraine and because they deem it too developed to qualify.<\/p>\n\n\n\n<p>South Africa will likely keep its preferential access to US markets because hundreds of American firms are also benefitting, according to the nation\u2019s ambassador to BRICS.<\/p>\n\n\n\n<figure class=\"wp-block-embed is-type-wp-embed is-provider-businesstech wp-block-embed-businesstech\"><div class=\"wp-block-embed__wrapper\">\n<blockquote class=\"wp-embedded-content\" data-secret=\"ZfvgVLqEQp\"><a href=\"https:\/\/businesstech.co.za\/news\/finance\/711048\/south-africas-r50-billion-deadline-looms\/\">South Africa&#8217;s R50 billion deadline looms<\/a><\/blockquote><iframe loading=\"lazy\" class=\"wp-embedded-content\" sandbox=\"allow-scripts\" security=\"restricted\" style=\"position: absolute; clip: rect(1px, 1px, 1px, 1px);\" title=\"&#8220;South Africa&#8217;s R50 billion deadline looms&#8221; &#8212; BusinessTech\" src=\"https:\/\/businesstech.co.za\/news\/finance\/711048\/south-africas-r50-billion-deadline-looms\/embed\/#?secret=26X0kQ4zd1#?secret=ZfvgVLqEQp\" data-secret=\"ZfvgVLqEQp\" width=\"500\" height=\"282\" frameborder=\"0\" marginwidth=\"0\" marginheight=\"0\" scrolling=\"no\"><\/iframe>\n<\/div><\/figure>\n\n\n\n<p>\u201cI don\u2019t think there is any serious threat of us losing preferential access to (the African Growth and Opportunity Act). AGOA is not a one-way issue, trade is not a one-way issue,\u201d said the nation\u2019s ambassador to BRICS, Anil Sooklal<\/p>\n\n\n\n<p>AGOA \u201cis mutually beneficial, the US government is benefitting,\u201d Congress of South African Trade Unions President Zingiswa Losi added at a Bloomberg conference on Friday (18 August). If they decide to end the preferential access, which expires in 2025, it won\u2019t create a vacuum, she said.<\/p>\n\n\n\n<p>\u201cChina will be coming in, India will be coming in, Russia will be coming in, and many others will be coming in because those opportunities are there,\u201d said Losi, who was part of a delegation that recently visited the US to ask for AGOA\u2019s extension.<\/p>\n\n\n\n<p>South Africa has exported $2.7 billion of goods using AGOA and the so-called Generalised System of Preferences to the US, its second-largest trading partner.<\/p>\n\n\n\n<p>BRICS leaders will hold their annual summit in Johannesburg next week. A possible expansion of the bloc will top the agenda, with Saudi Arabia and Indonesia among those who\u2019ve expressed interest in joining.<\/p>\n\n\n\n<hr class=\"wp-block-separator has-alpha-channel-opacity\"\/>\n\n\n\n<p><strong>Read: <a href=\"https:\/\/businesstech.co.za\/news\/government\/711916\/the-absurd-tax-changes-south-africa-would-have-to-make-to-afford-the-nhi\/\">The absurd tax changes South Africa would have to make to afford the NHI<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Cosatu says there are trade opportunities among the BRICS nations should South Africa be ousted from AGOA.<\/p>\n","protected":false},"author":59,"featured_media":667287,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[23],"tags":[1850,853],"class_list":["post-712412","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-government","tag-bloomberg","tag-south-africa"],"_links":{"self":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/712412","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/users\/59"}],"replies":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/comments?post=712412"}],"version-history":[{"count":3,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/712412\/revisions"}],"predecessor-version":[{"id":712486,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/712412\/revisions\/712486"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/media\/667287"}],"wp:attachment":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/media?parent=712412"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/categories?post=712412"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/tags?post=712412"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}